Does legitimate debt consolidation companies exists?
I found it hard to search for best debt consolidation company as very few are legitimate.
Does legitimate debt consolidation companies exists?
I found it hard to search for best debt consolidation company as very few are legitimate.
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Correct = many simply take your money and deliver nothing but excuses .. even the ‘legitimate’ ones are mainly ‘consultants’ who will ‘advise’ you to take out a some mega-expensive loan that pays them the maximium comission (their fees are added to the loan = so they get paid even if you default on the loan)
Go visit your local CAB (Citizens Advise Bureau) or check out the Government web site ..
Always google the name of a company followed by the word
complaint, scam, rip-off.
The main complaints are that people end up paying more interest than ever since the loan term is extended. Also it frees up money for them, and they get even more into debt even though they tried hard not to.
Some of these companies are outright scams – so be careful.
Consider getting a book at your library on Credit / Debt Repair. Also at bookstores.
They will teach you how to pay down debt, negotiate with your creditors, reduce interest rates, and even settle.
You can do this yourself, just give it a try.
In the US there is a company called NFCC.org – they are a non profit – federally approved.
They will charge you max $25/ month to help you and put you in a debt management program.
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Sorry but I have slightly different view then other.
There are many giants in this field also. You may try to get the best deal from such
providers.
Many such provide good benefits you may at least try for their free consultancy, which also
proves beneficial.